Telehealth Services Market Strategies and Forecasts, 2015 - 2023

Modern world is shifting from the age old concept of conventional medical treatment to technologically well-equipped treatment services. Thus the concept of telehealth services is gaining attention. In telehealth service there is an exchange of remote data between the patient at home and their doctor(s) to assist in diagnosis and monitoring patients with long term ailments. Among other techniques it includes fixed or mobile home units to measure, analyze and monitor body temperatures, blood pressure, sugar level and various other vital parameters for clinical evaluation at a remote location by using phones or wireless medium. Telehealth services have increase awareness among the individuals about their own health assisting both the patients and the doctors. Telehealth is advantageous in a way that it reduces the number of patient visits, thus saving time and also is a very cost effective service and thus can be availed by a large number of population.

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Doctors and clinicians, by this service can constantly monitor and guide the patient about their long term ailment, ultimately reducing the mortality rate. Moreover, it has also lead to drastic decrease in incidences of emergency admission. This has changed the perception of conventional medical practice, which forms the major driver for the market. Telehealth is not only restricted to long term ailments, but also has a wide range of applications like dentistry, counselling, physical and occupational therapy, disaster management and consumer and professional education.

The rate of using telehealth services is influenced by many factors such as the availability and cost of existing conservative health services in meeting patient requirements; the requirement of medical licensing, the policies of governments with respect to coverage, and payment for telehealth services. Modern techniques are being administered in telehealth service market like store-and-forward method, real-time, remote patient monitoring, remote training, and electronic consultation. With the use of all these techniques, telehealth service market is gaining popularity. However, certain restraints such as high installation charge can hamper the market growth in the forecast period.

The global telehealth services market can be segmented on the basis of type, application, end users and geography. The segment type can be further divided as clinical and non-clinical. Clinical uses comprises transferring medical data for diagnosis or disease management, advice on prevention from diseases, promoting good health, and using telephonic medium while dealing with emergency conditions. Non clinical uses comprises mainly of distance education, research programs on telehealth services, movement of patient and remote admission, providing online information and health data management. Application category focuses on the diseases such as cardiology, dermatology, neurology, gynecology, orthopedics, and others. The end-user segment of telehealth services can be divided into telehome, telehospital, assisted living, facility and worried well living and others. Telehome emphases on patient availing telehealth services from their respective home, while worried well living mainly focuses on the mental wellbeing of the patient.

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Geographically, the global telehealth services market can be classified as North America, Europe, Asia Pacific, Latin America and Rest of the world. The major key players operating in the telehealth service market include Allscripts Healthcare Solutions, Inc., LifeWatch AG, CARDIOCOM, LLC, McKesson Corporation, Polycom, Inc., AMD Global Telemedicine, Inc., F. Hoffmann-La Roche Ltd., Cisco Systems, Honeywell HomMed LLC, InTouch Technologies, Inc., and Philips Healthcare.

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